Clifford Chance has advised Acciona on the US$600 million green and sustainability-linked loan (SLL).

The first tranche of US$380 million comprises a loan from IFC –International Finance Corporation– (US$145 million) with investment by the Dutch development bank FMO (US$95 million) and two other parallel loans from German investment entity DEG, belonging to the German development bank KfW (US$105 million), and from Proparco, which is part of the French Development Agency group (US$130 million).

The loan is aligned with the EU taxonomy and promotes projects such as the São Paulo metro’s Line 6 and several electricity transmission lines to integrate renewable energy into the grid in Peru. These projects aim to decarbonise Peru’s energy sector and transform urban mobility in Brazil.

The team at Clifford Chance was led by Global Financial Markets partner Eugenio Fernández-Rico, with support from associates María González and Marta Ruiz. Senior Counsel Roberto Grau advised on tax matters.